Preemption battles between federal banking regulators and state governments have already emerged as one of the hottest policy stories of 2003. As demonstrated in the stories whose links are provided below, the passage of predatory lending and privacy bills by activist state legislatures, and the need to renew key provisions of the Fair Credit Reporting Act, are forcing a strong federal reaction.
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American Banker Coverage
Treasury: U.S. Privacy Law Not a Priority - March 24, 2003An FCRA Bill at Last, But No Privacy Preemption - March 20, 2003A Defiant State Senator Warns on Privacy and Preemption - March 14, 2003Treasury Chief Backs Preemption Renewal - March 12, 2003Sarbanes Says He Might Back Preemption - March 11, 2003Will Georgia 'Fix' Hurt or Help Federal Law's Case? - March 10, 2003Predator Bill in N.J. Could Be Next Item on Preemption List - March 5, 2003Wells Move Stalls Calif. Threat to Pull Its Mortgage License - February 26, 2003In Focus: Standard on Predatory Nearer After OCC's Moves - February 24, 2003OCC Leaps into Fray in Calif. - February 20, 2003Raines Calls for Federal Action Against Predators - February 14, 2003Federal Anti-Predator Bill Ready for Introduction - February 13, 2003In Focus: How Allies Wound Up Sparring on Preemption - February 10, 2003In Brief: Texas Ban on Check-Cashing Fee Preempted - February 10, 2003In Focus: Wells v. Calif.: Interest, Fees Spur Round 3 - February 7, 2003Debate Heats Up Over National Predator Law - February 7, 2003GOP's Bachus Stresses Action on Privacy, ID Theft - February 5, 2003In Brief: OCC Asserts Power Over National Banks - February 3, 2003Second OTS Preemption: Predator Law in N.Y. - January 31, 2003Calif. Court Affirms OTS' Power of Preemption - January 29, 2003OTS Blocks Most of Ga. Predator Statute - January 23, 2003Industry Split on Idea Of National No-Call List - January 15, 2003Small Banks No Fans of Kovacevich Opt-In Idea - January 06, 2003Review/Preview: Subprime Preemption Bills Headed for House - December 31, 2002California Law on Card Warnings Struck Down - December 26, 2002In Brief: Trade Group Sues OTS Over Preemption - December 24, 2002In Brief: Insurers: Reverse OCC Preemption Ruling - December 24, 2002Preemption Renewal Debate to Drive '03 Bank Legislation - December 20, 2002Shelby Talks Trade-Off: Opt-In for Preemption - December 6, 2002OCC: States' Enforcers Subject to Preemption - December 3, 2002In Focus: Privacy Isn't Only Concern In Fair Credit Renewal Fight - December 2, 2003W.Va. Won't Budge After Court Backs Preemption - November 21, 2002In Brief: ABA Argues for Preemption in W.Va. Case - October 24, 2002Sunset Provision May Spur '03 Privacy Fight - October 23, 2002OTS Challenges California Card Law - October 03, 2002In Focus: Preemption to Prevail Again In Local Calif. Privacy Fight? - September 16, 2002In Brief: Mass. Sues OCC Over Preemption Issue - June 25, 2002
From the Agencies
OCC Preemption Letter: 02/21/03 Notice of Request for Preemption Determination or OrderOCC Advisory Letter 2003-3: 02/21/03 Avoiding Predatory and Abusive Lending Practices in Brokered and Purchased LoansOCC Advisory Letter 2003-2: 02/21/03 Guidelines for National Banks to Guard Against Predatory and Abusive Lending PracticesOCC NR 2003-07: 01/31/03 OCC Seeks Comment on Package of Rules Dealing with AHEOA, Fiduciary Activities, Real Estate Lending and Visitorial PowersOTS 03-04: 01/30/03 OTS Says New York Law Doesn't Apply To Federal ThriftsOTS Legal Opinion 03-2: 01/30/03 Preemption of New York Predatory Lending LawOTS 03-02: 01/22/03 OTS Says Georgia Law Doesn't Apply to Federal ThriftsOTS Legal Opinion 03-1: 01/22/03 Preemption of Georgia Fair Lending ActOTS 02-38: 10/02/02 OTS Says California Law Doesn't Apply to Federal Thrifts
For additional coverage of regulatory compliance and legislative events, including pending activity calendars, agency announcements, calls for comment, and more, visit American Banker Online's Washington/Regulatory page at
